Head-Up Display Market Dynamics: Shifts in Consumer Preferences and Expectations
Head-up Display Market Growth & Trends
The global head-up display market size is expected to reach USD 15.26 billion by 2030, registering a CAGR of 15.7% from 2023 to 2030, according to a new report by Grand View Research, Inc. A Head Up Display is computerized systems that projects information onto the screen in vicinity to the viewer on screen or by means of a separate display. The HUD systems projects data, images, and supporting information to driver or the viewer in such a way that the viewer can view both the outside world and the information simultaneously. Initially, the HUD displays were prominently deployed in aviation industry seeking deployment specifically in military aircrafts. Later, the HUD displays were hosted on to civil aircrafts by means of a secondary screen. In recent times, HUD system finds applications in dynamic application arenas including automobile windscreens, motorcycle helmets where the data is displayed on the visor.
Access the Head-up Display Market Size, Share & Trends Analysis Report By Application (Automotive, Aviation, Wearables, Others), By Region (North America, Europe, Asia Pacific, Latin America, Middle East And Africa), And Segment Forecasts, 2023 - 2030
Nowadays, numerous luxury car manufactures such as Daimler AG and BMW AG have started incorporating HUD displays in their premium automobile models. Imminent future is expected to witness standardization of these HUD systems as they help in reducing accident proportion and ensure safer driving. HUD displays are even deployed in numerous gaming applications that seek deployment in conjunction with augmented reality technology. In the coming years, the automotive sector will endure to be the major contributor to the head up display market, nevertheless, the solicitation of HUDs in the wearables segment will witness the highest growth during the forecast period.
The demand from the automotive vertical and the increasing growth opportunities in the wearables sector are driving the growth of the head up display market. Automotive manufacturers are concentrating on ensuring HUD systems design, and economic assessment capability of deployment in basic & mid-segment cars.
Head-up Display Market Report Highlights
· The automotive segment accounted for the largest revenue share of around 77.2% in 2022.
· North America dominated the market and accounted for the largest revenue share of 30.3% in 2022.
· The growing demand for HUD system can be attributed to the ever-growing demand for efficient and safe driving technology, across defense and civil sectors
· Further, sports and premium car segments would initially witness higher adoption of HUD systems, whereas over the forecasts the HUD incorporation would increase in basic and mid-segment car segments.
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Key Companies & Market Share Insights
The market is highly competitive, and the players are undertaking strategies such as forecast launches, acquisitions, and collaborations to increase their global reach. For instance, in June 2023, Honeywell International Inc. acquired Saab's heads-up display assets to enhance its avionics offerings. Under the agreement, Saab will collaborate with Honeywell to enhance and expand its HUD product line. Heads-up-display improves pilots' situational awareness, particularly during challenging weather or nighttime conditions. This partnership will result in safer and more fuel-efficient flights, allowing passengers to reach their destinations more reliably.
Key Head-up Display Companies:
· BAE Systems
· Continental AG
· DENSO CORPORATION
· Elbit Systems Ltd.
· Visteon Corporation
· YAZAKI Corporation
· Robert Bosch LLC
· Collins Aerospace
· Thales
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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